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The State Bank of Vietnam has sold US$2.5 billion in foreign currency to commercial banks since mid-July to limit dong depreciation. The interbank USD/VND rate ended the week at 23,305, and a brokerage warned of further intervention if the dollar keeps strengthening.
Central bank dollar sales show sustained pressure on the dong, which raises the local cost of imported feed ingredients and can squeeze Vietnamese feed margins.
hanoitimes.vnA Anh MinhAug 8, 2018Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
